Mind Matters Natural and Artificial Intelligence News and Analysis

TagBlockchain

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Man at work signing legal contract by using digital signature

Can Digital Signatures Protect NFTs in Digital Marketplaces?

The concept of owning an NFT on a blockchain is specific to the blockchain, with no legal force in society at large

Introduction: At Expensivity, Bernard Fickser explains that a non-fungible token (NFT) is a unique token in cryptography that represents, say, real estate or art rather than money. Because the tokens have unique identities (non-fungible), they can be bought or sold while reducing the risk of fraud. So how do they work?: The series is called How Non-Fungible Tokens Work: NFTs Explained, Debunked, and Legitimized (July 30, 2021). In Part 2, we look at digital signatures 2 Digital signatures in digital marketplaces Of course, there’s more to the story. As already suggested, when someone buys a non-fungible token, they’re not simply buying a digital file of some collectible that can be readily copied. So what exactly are they buying? To understand…

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Blockchains Have NFTs Unnecessarily Tied Down

New ideas propose severing the accidental relationship between NFTs and blockchains

Non-Fungible Tokens (NFTs), for those who haven’t been paying attention, are digital collectibles that have been gaining popularity. Essentially, they allow someone to “mark” their “ownership” of a piece of cyberspace.  Since their original inception in 2012, NFTs have invariably been tied to blockchain technology. However, a recent review of the technology by Bernard Fickser has shown that there is nothing inherently tying NFTs to blockchain. In fact, blockchains may be holding NFTs back considerably. (For those needing a refresher, a short guide to how the blockchain works can be found here.) In his article, Fickser notes several interesting discrepancies between NFTs and cryptocurrencies. First of all, there is a lot of technology built into cryptocurrencies to keep them anonymous, while the entire point of…

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conceptual image Chinese stock exchange with digital currency, devaluation of bitcoin or growth of Chinese e-rmb

Will China’s Digital Yuan Displace the US Dollar in Global Trade?

The U.S. dollar became the world’s reserve currency because it was stable and easily transferable. It also enabled the U.S. to penalize sponsors of terrorism and genocide

China has just launched its Digital Currency Electronic Payment System, called variously the electronic yuan or electronic renminbi (abbreviated e-CNY or e-RMB). It will likely thwart Alipay and WeChat Pay’s dominance in China’s financial tech market and allow the government to track almost all financial transactions in real time. There are, of course, international implications to China being the first country to roll out a digital currency backed by the central bank. Can the Digital Yuan Compete with the Dollar for Global Dominance? Some analysts now see China’s move to a digital currency based on blockchain technology as intended to displace the dollar. Right now, eighty-eight percent of global trade interactions are in U.S. dollars, followed by the euro, and…

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Huge smoke clouds on sky background

Cloud Computing? There’s a Lot of Smoke in Those Clouds

Big Tech creates many environment issues that we do not often hear about, the way we hear about coal mines and landfills

When we think about environment problems, we naturally imagine huge smokestacks turning the sky dark and coating the trees with soot. But glitzy high tech stuff like cloud computing and cryptocurrency use a lot of energy too. Cloud computing, where we use computing resources via the internet without installing and maintaining them, is a huge energy hog we never see: The music video for “Despacito” set an Internet record in April 2018 when it became the first video to hit five billion views on YouTube. In the process, “Despacito” reached a less celebrated milestone: it burned as much energy as 40,000 U.S. homes use in a year. Naomi Xu Elegant, “The Internet Cloud Has a Dirty Secret” at Fortune (September…

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a man using digital tablet with building hologram and internet media icons. Smart city, 5g, internet and networking technology concept

Nevada Announces New Cities in State To Be Run By Big Tech

The zones promise technological freedom, but what are the dangers to handing so much political power to big corporations?

Nevada is courting technological business by offering them the opportunity to develop cities independent of government regulation. In his State of the State address on January 19th, Nevada Democratic Governor Steve Sisolak announced proposed legislation to create “Innovation Zones” in order “to jumpstart the state’s economy by attracting technology firms.” The long-term vision for these Innovation Zones is a county independent of local government, run solely by a technological corporation for the purpose of pursuing advanced technology without the red tape of bureaucracy. The proposed legislation draft calls “traditional forms of local government” “inadequate” in their ability “to provide the flexibility and resources conducive to making the State a leader in attracting and retaining new forms and types of businesses…”…

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Black diagonal chain, a blockchain concept, double

Can Blockchain Help Ensure Fraud Free Voting?

Could blockchain have prevented the current controversy around voter fraud in the recent U.S. election?

In Wednesday’s meeting between Donald Trump’s lawyer Rudy Giuliani and Republican senators from the Pennsylvania legislature about potential voter fraud in the state, one state senator suggested blockchain as a potential cure for the type of voter fraud being alleged. A company called VOATZ has the technology to do this and was mentioned by name. Blockchain is the secret sauce that keeps bitcoin working. Each new bitcoin transaction is encrypted as a new link in the chain, which is distributed to numerous sites. If anyone tries to change a link in the blockchain, everyone who stores the bitcoin blockchain knows it, so the fraud is detected and removed. The beauty of blockchain is that trust is assured among people who…

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Blockchain technology. Information blocks in digital space. Decentralized global network. Cyberspace data protection. 3D illustration with elements of a binary code

While the West Hesitates, China Is Moving to Blockchain

Life After Google by George Gilder, advocating blockchain, became a best seller in China and received a social sciences award

In this week’s podcast, “George Gilder on blockchain and carbon computing,” tech philosopher George Gilder and computer engineer Robert J. Marks, our Walter Bradley Center director, continued their discussion of the impact of artificial intelligence (AI). This time, they focused on the future of blockchain, of quantum computing, and carbon computing.What difference will they make? Quite a lot it seems. Today, we will look at what happens when blockchain goes global. You can download Gilder’s new book, Gaming AI, for free here. The three earlier episodes and transcripts in this series are also linked below. And so now… https://episodes.castos.com/mindmatters/Mind-Matters-108-George-Gilder.mp3 Gilder and Marks discussed both the huge surge of interest in blockchain in China and the central weakness of Bitcoin, whose…

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bitcoin wallet and currency

George Gilder on Blockchain and Carbon Computing

George Gilder and Robert J. Marks discuss blockchain, Bitcoin, quantum and carbon computing, and George Gilder’s new book Gaming AI: Why AI Can’t Think but Can Transform Jobs (which you can get for free here). Show Notes 00:26 | Introducing George Gilder 01:00 | Blockchain 07:57 | Facial recognition 10:30 | Bitcoin 15:04 | Quantum computing 18:16 | Carbon computing…

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person holding baseball ball in black leather baseball mitt

Collectors’ Items Are Now on the Blockchain

When I was growing up, trading cards were all the rage. They mostly centered on baseball but trading cards for every major sport emerged. The Topps Company has long had the lead in baseball cards, with Fleer and Upper Deck trailing far behind. Recently, Topps made a radical move into the digital sector by making some of its trading cards available via the WAX blockchain. WAX stands for Worldwide Asset eXchange. WAX is a blockchain (i.e., cryptocurrency) system that is geared around the buying, selling, and trading of virtual items. Previously, WAX was primarily used to trade goods within gaming platforms. For instance, the massively multiplayer economic strategy game Prospectors utilized WAX to allow users to trade items. However, in…

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Jay Richards and Steve Forbes Interview

Cryptocurrency a “High-Tech Cry for Help” Says Steve Forbes of Forbes Media

Jay Richards interviews Steve Forbes, Chairman and Editor-in-Chief of Forbes Media, regarding the future of cryptocurrency and blockchain technologies, and the implications of the technologies for global money, global security, and internet architecture. Read More ›
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Wall Street Journal columnist to Big Tech: You are doomed

Companies like Google and Facebook aren’t monsters, says Andy Kessler, but each nourishes the seeds of its own destruction

Kessler told his audience at the COSM National Technology Summit that Big Tech companies are so vulnerable that, for legal reasons, the United States is the only safe place for their headquarters.

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Chair of Forbes Media Says Money Is About Trust

Experts forecast the future of money in general at COSM

Facebook wants to start minting its own money. Amazon is said to be thinking about it. Bitcoin has many enthusiasts. But what determines the value of money in a digital age?

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3G? 4G? 5G? What Gs Are These?

An expert COSM panel will fill us in on what the latest Generation of the internet (5G) and block chain offer us

The panelists include Jules Urbach, creator of the web’s first 3D video game platform, described by George Gilder as “the most inventive software engineer he has ever met.”

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COSM: George Gilder Hosts Top Tech Guys, To Ask, Where Is All This Going?

Are machines replacing or helping us and how will we know the difference?

The October 23-25 conference is aimed at CEOs, CTOs, and CIOs, investors, researchers, technologists, and anyone for whom the $950 Early Adopter Rate (before July 23) would be a good investment in their future.

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Bingecast: Blockchain and Bitcoin

With Will Fullerton

Robert J. Marks and Will Fullerton discuss what changes await as we enter the implementation phase of a foundational technology: blockchain. While China is making a multi-billion dollar investment, IBM is betting on countless blockchain projects. And by promising to disintermediate financial institutions, blockchain holds the promise of radically reducing obstacles and overhead from human transactions. Still, challenges remain to…

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Life after Google: More private and more profitable?

Reviewing Gilder’s Life after Google, Ralph Benko asks, If our attention is worth billions, shouldn’t we market it?
In a more open market, the user’s time and attention would no longer be a free service of nature. One expects incentives to follow naturally from more competition for the user’s attention.
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The true cost of “free” social media

It’s free but… are we? George Gilder points a way forward.
He thinks that expected massive increases in computing power will enable blockchain technologies that allow users to safely bypass the global data monopoly that Google and similar firms represent. Read More ›
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Is Bitcoin Safe?

Why the human side of security is critical

Bitcoin solves a lot of tough problems in very ingenious ways. Unfortunately, however, those benefits don’t tend to translate well for end users, who are not nearly as ingenious as the people developing the system.

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Trusting the Blockchain

Will Fullerton on Blockchain as a Foundational Technology

Robert J. Marks and Will Fullerton discuss what changes await as we enter the implementation phase of a foundational technology: blockchain. While China is making a multi-billion dollar investment, IBM is betting on countless blockchain projects. And by promising to disintermediate financial institutions, blockchain holds the promise of radically reducing obstacles and overhead from human transactions. Still, challenges remain to be solved that are inherent to the technology. Join Bob and Will for a stimulating conversation. Read More ›